Cf:  DFL





The Avoyelles Parish School Board shall select a bank depository which shall provide for the most efficient and otherwise desirable financial services to the Board.  Within thirty (30) days prior to the expiration of any contract, the Board shall give written notices to each of the banks located in the Parish of Avoyelles that the Avoyelles Parish School Board shall receive bids at a specified time and place.  The notice shall specify the length of time for which the fiscal agency contract shall be made and the conditions and terms of the proposed contract, and a copy of said notice shall be published in the official journal at least three (3) times within the thirty (30) day period.


Fiscal agency contracts issued by the Avoyelles Parish School Board shall be for a period of two (2) years.  Bids for becoming the Board's fiscal agency shall be received at the regular Board meeting in October.




  1. In the event that several bankers make a joint bid for fiscal agent, only one (1) bank shall serve as agent to receive all deposits and maintain accounts of the Avoyelles Parish School Board at no charge.

  2. Bank(s) must indicate amount it is willing to loan Board and interest rate for such loan on bid submitted.  Any and all loans made to Board shall be secured by the usual resolution pledging the revenues of the Board to fiscal agent for the year in which the loans are made.

  3. Interest rates on all surplus funds must be shown on all bids.  Bank(s) must allow the maximum rate allowed by FDIC on funds placed in savings accounts, NOW Accounts, Super NOW Accounts and Certificates of Deposit under $100,000.  Bank(s) must quote rate for certificates of deposit above $100,000.

  4. The Board may sustain the expense incurred for printed checks and/or vouchers and all postage and stationery necessary in dealing with the banks.

  5. Fiscal agent agrees to transport any negotiable instruments issue or under control by Board, such as bonds and/or coupons, to or from any destination under their blanket bond or registered mail policies.

  6. Fiscal agent agrees to furnish Board free of charge safe deposit box services; and, if Board has need of night depository service, this service will be furnished free.

  7. Fiscal agent agrees to handle without service charge any and all accounts under the Board control, such as General Fund, School Lunch Fund, or any other accounts; and, in addition, will make no service charge on accounts of the various schools, doing business with fiscal agent, such as their General Funds, School Lunch Funds, Athletic Funds, or Special Funds. Interest shall apply to all such Accounts.

  8. All checks, vouchers, coupons, bonds and drafts or any other papers or obligations by and to the Avoyelles Parish School Board, directly or indirectly, shall be accepted by fiscal agent at par and paid and collected at no expense to Board or any of its Agents or Agencies, including the collection charges, and all transfers of funds shall be made without exchange charges.

  9. Fiscal agent agrees to comply with all the laws and regulations covering Fiscal Agency Contracts during the term of the contract, provided none of which conflict with the regulations and laws of Federal Deposit Insurance Corporation.

  10. All funds and monies belonging to and under control of the Board, including taxes withheld and deposited to the U. S. Treasury Tax and Loan Account, directly or indirectly, shall be deposited with fiscal agent immediately upon the beginning of the Fiscal Agency Contract and all future funds coming into the hands and in possession of Board, officers and coming under the contract as Fiscal Agent shall be deposited with fiscal agent promptly as received during the term of the contract.  The Board shall reserve the right to deposit and invest all district funds, to include district bond sales, construction funds, sinking funds, in the bank(s) of its choice.

  11. Fiscal agent agrees to furnish the necessary security as provided by applicable state statutory provisions to the satisfaction of the Board.



Ref:     La. Rev. Stat. Ann. ยงยง17:95, 39:1211, 39:1212

Board minutes, 9-2-52, 8-14-84


Avoyelles Parish School Board